New-home construction jumped 5.7% month over month after a soft March, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

The pace of home sales continued to gain steam, as home prices gained ground as well, according to the latest Housing Market Snapshot from Georgia MLS. 

At the same time, home sales declined as days on market ticked higher.

At the same time, the pace of home sales surged on a monthly as well as a yearly basis. 

Sales rose 9.5% from January to a seasonally adjusted annual rate of 4.38 million.

A variety of metrics in the Georgia MLS 12-county Housing Market Snapshot showed the beginnings of a robust spring selling season. 

The median existing-home price for all housing types was $379,100, up 5.1% from $360,800 a year before.       

Single-family home sales prices increased in 189 out of 221 metro areas analyzed, with the median single-family price in the country rising 3.5% year over year to $391,700.

Days on market declined, as did housing inventory, according to the latest Atlanta Housing Scorecard.

Pending home sales rose 8.3% month over month, the National Association of REALTORS® said, marking the largest monthly jump since 2020. 

Declining interest rates spurred the increase. 

In Atlanta, the number of coworking spaces rose quarter over quarter in Q4 2023, and the city’s total square footage of coworking space rose as well. 

At the same time, the median sales price rose 4.4% to $382,600. 

The NAHB/Wells Fargo Housing Market Index (HMI) rose seven points to 44, its second monthly increase in a row. 

CoreLogic expects prices to continue to grow through the year.

The pace of sales, however, continued to slow on a yearly as well as a monthly basis.